No need for 2nd trial of Sam Bankman-Fried after conviction, prosecutors say

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A 2nd proceedings of FTX laminitis Sam Bankman-Fried connected charges not successful nan cryptocurrency fraud lawsuit presented to a assemblage that convicted him successful November is not necessary, prosecutors told a judge Friday.

Prosecutors told U.S. District Judge Lewis A. Kaplan successful a missive that grounds astatine a 2nd proceedings would copy grounds already shown to a jury. They besides said it would disregard nan “strong nationalist liking successful a punctual resolution” of nan case, peculiarly because victims would not use from forfeiture aliases restitution orders if sentencing is delayed.

They said nan judge tin see nan grounds that would beryllium utilized astatine a 2nd proceedings erstwhile he sentences Bankman-Fried connected March 28 for defrauding customers and investors of astatine slightest $10 billion.

Bankman-Fried, 31, who has been incarcerated since respective weeks earlier his trial, was convicted successful early November of 7 counts, including ligament fraud, ligament fraud conspiracy and 3 conspiracy charges. He could look decades successful prison.

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Last spring, prosecutors withdrew immoderate charges they had brought against Bankman-Fried because nan charges had not been approved arsenic portion of his extradition from nan Bahamas successful December 2022. They said nan charges could beryllium brought astatine a 2nd proceedings to hap sometime successful 2024.

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2:05 Sam Bankman-Fried’s FTX crypto empire ‘built connected lies’: prosecutors

However, prosecutors astatine nan clip said that they would still coming grounds to nan assemblage astatine nan 2023 proceedings astir nan constituent of nan charges.

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The charges that were temporarily dropped included conspiracy to make unlawful run contributions, conspiracy to bribe overseas officials and 2 different conspiracy counts. He besides was charged pinch securities fraud and commodities fraud.

In their missive to Kaplan, prosecutors noted that they introduced grounds astir each of nan dropped charges during Bankman-Fried’s monthlong trial.

They said authorities successful nan Bahamas still person not responded to their petition to bring nan further charges astatine a 2nd trial.

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A condemnation connected nan further charges would not consequence successful a imaginable for a longer situation condemnation for Bankman-Fried, prosecutors said.

“Proceeding pinch sentencing successful March 2024 without nan hold that would beryllium caused by a 2nd proceedings would beforehand nan public’s liking successful a timely and conscionable solution of nan case,” prosecutors wrote. “The liking successful avoiding hold weighs peculiarly heavy here, wherever nan judgement will apt see orders of forfeiture and restitution for nan victims of nan defendant’s crimes.”

Defense lawyers did not instantly respond to requests for comment.

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